BidaskClub upgraded shares of Rexford Industrial Realty Inc (NASDAQ:REXR) from a hold rating to a buy rating in a report released on Tuesday.

Several other equities research analysts also recently commented on the stock. National Securities raised shares of Rexford Industrial Realty from a hold rating to a buy rating and boosted their target price for the stock from $23.00 to $32.00 in a research report on Tuesday, August 29th. Jefferies Group LLC reissued a buy rating and set a $32.00 target price (up from $26.00) on shares of Rexford Industrial Realty in a research report on Sunday, June 25th. Zacks Investment Research raised shares of Rexford Industrial Realty from a hold rating to a buy rating and set a $33.00 target price for the company in a research report on Thursday, August 31st. Stifel Nicolaus reissued a buy rating and set a $33.00 target price (up from $30.00) on shares of Rexford Industrial Realty in a research report on Thursday, September 14th. Finally, FBR & Co initiated coverage on shares of Rexford Industrial Realty in a research report on Tuesday, July 11th. They set a mkt perform rating and a $26.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $30.63.

Rexford Industrial Realty (REXR) traded down 0.07% during mid-day trading on Tuesday, hitting $30.43. 49,273 shares of the company were exchanged. Rexford Industrial Realty has a 12-month low of $20.05 and a 12-month high of $30.66. The company’s 50-day moving average is $29.65 and its 200 day moving average is $27.30. The company has a market capitalization of $2.15 billion and a P/E ratio of 65.16.

Rexford Industrial Realty (NASDAQ:REXR) last posted its earnings results on Tuesday, August 1st. The company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The company had revenue of $36.78 million during the quarter, compared to the consensus estimate of $36.75 million. Rexford Industrial Realty had a net margin of 53.98% and a return on equity of 7.84%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. Analysts expect that Rexford Industrial Realty will post $0.36 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 28th.

Hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its position in Rexford Industrial Realty by 1.9% in the 2nd quarter. Victory Capital Management Inc. now owns 3,743 shares of the company’s stock worth $103,000 after purchasing an additional 71 shares in the last quarter. Advisor Group Inc. grew its position in Rexford Industrial Realty by 13.6% in the 2nd quarter. Advisor Group Inc. now owns 3,787 shares of the company’s stock worth $103,000 after purchasing an additional 453 shares in the last quarter. SG Americas Securities LLC bought a new stake in Rexford Industrial Realty in the 1st quarter worth about $114,000. Ameritas Investment Partners Inc. bought a new stake in Rexford Industrial Realty in the 1st quarter worth about $128,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Rexford Industrial Realty by 10.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,758 shares of the company’s stock worth $131,000 after purchasing an additional 469 shares in the last quarter.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.

Analyst Recommendations for Rexford Industrial Realty (NASDAQ:REXR)

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